Michigan
HARP 2.0 is allowing Michigan Residents to Manage their Mortgage There were over one million U.S. homeowners who took advance of the Home Affordable Refinance Program in 2012. In January of this year, close to 100,000 homeowners refinanced their mortgage using HARP to improve their financial situation. It was recently released that the deadline for [...]
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How do I know if I am prepared for my Closing? Whether you are preparing to close on a purchase or a refinance transaction, it is always important that you understand the scheduling of the “Close” for the loan. Michigan is a Non-Escrow state, which means documents are dated for a specific date and borrowers [...]
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With Historic Low Mortgage Rates, Refinance Applications Still Dominate Purchase Applications Since we are currently witnessing historic low mortgage rates, refinances have been booming. Refinances are currently making up 75% of mortgage loans in Michigan. People are chomping at the bit to take advantage of these rates and to lower their monthly mortgage payments. However, [...]
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Will I Need a Home Appraisal with a HARP 2.0 Refinance? As part of the mortgage approval process, mortgage lenders often verify the value of a home with a home appraisal. However, there are two different types of refinances that usually don’t require an appraisal. Click here to view today’s Michigan Mortgage Rates The recent [...]
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Should I Invest in my Current Home Instead of Buying a New Home? The housing market is heating up so that means that this is the best time to buy a house, right? Actually, this may not be the case at all. With very little inventory, it is hard for a family to find a [...]
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Why Should I Refinance my Home? The media hype of “all time” low rates and refinancing has now taken a back seat to the purchase market. All the talk of the refinance boom appears to have exited stage left, which is a shame. We still have former customers and millions of consumers who have rates [...]
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How Can I Boost My Credit Score for a Better Chance to Get Pre-Approved? If you are looking to purchase a new home, it is important that you have a high credit score. When you have your mortgage lender pull your credit, there will be three credit scores that will be reviewed. Out of the [...]
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The Pace of New Homes Being Built Has Increased Due to a Growth in The Housing Market With the recent increase in the housing industry, home builders have picked up the pace of construction on new houses. In February, builders began construction on more homes and permits for future construction at the fastest pace since [...]
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Refinancing is Easier Now that Values are Rising, Not to Mention Low Rates Homeowners are refinancing their loans at the fastest pace in quite some time due to the fact that home values are increasing and rates are still unbelievably low. However, low interest rates could be headed north over the next couple months. Refinance [...]
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What is Happening with the Housing Market The housing market continued to have a healthy recovery in February with both existing home sales and prices on the rise. The good news for those folks looking to buy a home is that the inventory actually increased to 1.94 million from 1.74 million in February. What is [...]
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